Old Mutual to unbundle Nedbank majority stake to shareholders

September 28, 2018

OLD Mutual Group CEO for Harare Mr Jonas Mushosho addresses the audience at an official handover of the technology centre at Mzilikazi memorial library in Bulawayo yesterday. Following proceedings are, from left, Old Mutual regional manager Mrs Margaret Vera, Old Mutual deputy group CEO Mr Zomunoda Chizura and the Town Clerk Mr Middleton Nyoni.

Old Mutual Ltd announced Friday it would unbundle it’s majority shareholding in NedBank Group to ordinary shareholders by mid-octobsr. The group said shareholders will receive for 3.21117 NedBank shares a total 100 Old Mutual shares. Nedbank is listed on the JSE and Nambia stock exchanges. This is in line with Old Mutual’smanagec separation deal to…